NEW YORK ( TheStreet) -- ABB (NYSE: ABB) hit a new 52-week high Monday as it traded at $24.62 compared with its previous 52-Week high of $24.32. ABB is changing hands at $24.60 with 65,833 shares traded as of 9:31 a.m. ET. Average volume has been 2.5 million shares over the past 30 days.

ABB has a market cap of $54.9 billion and is part of the industrial goods sector and industrial industry. Shares are up 7.7% year to date as of the close of trading on Friday.

ABB Ltd provides power and automation technologies for utility and industrial customers worldwide. The company's Power Products division manufactures and sells high- and medium-voltage switchgear and apparatus, circuit breakers, power and distribution transformers, and sensors. The company has a P/E ratio of 19.1, below the average industrial industry P/E ratio of 21.6 and below the S&P 500 P/E ratio of 22.6.

TheStreet Ratings rates ABB as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, increase in net income and growth in earnings per share. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full ABB Ratings Report.

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